Macquarie launches new application process

The service allows advisers to submit applications for Macquarie Cash Management Accounts and Macquarie Bank Term Deposits through Macquarie Access.

Peter Forrest, head of product – cash and SMSF solutions at Macquarie Adviser Services, said the new application process would help advisers to work faster and more efficiently, enabling them to open clients’ accounts more quickly.

“Advisers are increasingly looking for solutions which allow them to work more efficiently and technology plays an important role in streamlining the processes which can help them to do this,” he said.

“The ongoing challenge that advisers have is ensuring they have the right solutions in place to support their main focus, which is providing advice.”

By allowing clients to authorise applications online and using electronic verification to identify clients, Macquarie said the process would help advisers to streamline the administration involved in opening new accounts.

The application process can be used to open individual, joint, company, SMSF and trustee accounts.